As per reports India is the world’s third largest provider of generic medicines by volume, with a 20% share of total global pharmaceutical exports. The Indian pharma industry is one of the largest employers in the private sector and exporter of medicines to over 150 countries, including the US and Europe.

Advantages of working with a contract manufacturer in India

It’s only natural that every country would want to stake its claim and become a leading provider of pharmaceutical goods and services—especially as baby boomers age and demand for healthcare increases. While other countries have certainly staked their claims, there is one country that stands out above all others: India.

The biggest advantage of contract manufacturing companies based out of India is their experience and expertise. Most of them have been in business for years and have worked with some of the best pharma companies in India. With their help, you can launch your product quickly without dealing with a lot of regulatory hassles and labor issues as well. This will also ensure that your brand comes up with an effective formulation that meets international standards. Also, since most of these companies offer turnkey solutions, all you need to do is supply raw materials and choose a design; they’ll work on all other aspects like testing quality control etc.

 For instance, if you’re an international pharma company looking to enter into the market, a reputable contract manufacturer can offer you cost-effective services. They can also help maintain quality control and ensure that your brand gains trust among customers. Also, since they already have a network of suppliers who can provide raw materials as per your requirements, choosing them as your partner will speed up the manufacturing process considerably.

Things pharma companies look for when outsourcing to India

The foremost thing they look for when outsourcing to India are high quality medicines and process and product certification. If a factory has a lot of drug approvals from countries such as the USA, UK, Australia, Singapore and Canada, it definitely boosts their confidence in investing in that country. The pharmaceutical companies pay more attention to cGMP (current good manufacturing practices) certified suppliers or contract manufacturers.  They also prefer if any company has long experience in manufacturing medicine.  More and more top pharma companies rely on suppliers and manufacturers with robust capabilities in producing cGMP products.

The strong R&D base: India’s R&D infrastructure has been growing at an accelerated pace after 2004 due to various funding initiatives taken by Government schemes.

Pharma outsourcing from India – The cost advantage

For many years, Indian pharmaceutical companies have enjoyed a cost advantage over their Western counterparts. In fact, according to some estimates, it costs about 1/3 as much to produce medicines and drugs in India as it does in Europe or America. But with labor costs rising by 10-20% annually and more, Indian pharma companies have been steadily losing ground on price advantage, making them less competitive abroad while they gain share at home. However, one thing hasn’t changed – India continues to offer expertise and dedication that most other countries simply can’t match. The country’s long history of manufacturing both generic and brand name medicines – currently 25% of all global generics originate in India – plays an important role in reassuring customers. What really sets Indian pharma apart from others are its human resources.

 The Indian pharmaceutical industry has been one of the great success stories of globalization, not just by providing cheap drugs but also by enabling access to medicine for billions of people around the world. PhRMA – an organization that represents leading U.S. biopharmaceutical research companies – estimates that generics from India saved American consumers alone over $21 billion between 2007 and 2012.

The Future of Pharma Outsourcing from India

The pharma industry has been rapidly growing on a global scale over the past decade.  Large pharmaceutical companies are constantly searching for ways to keep their costs low and profits high. It’s no surprise that many of these organizations have started outsourcing their manufacturing processes to emerging countries with lower labor costs, like India, which could potentially become one of the biggest destinations for outsourcing. As outsourcing becomes increasingly popular, more companies will follow suit by shifting their resources away from developed countries and towards developing nations. This trend will only accelerate as emerging economies continue to develop and grow. From R&D facilities to lab testing services and packaging, many pharmaceutical companies in India are currently working hard to help supply pharmacies around the world with quality medications at competitive prices.

What are the top pharma companies from India?

Answering a question like What are some of the best pharma companies from India? can be rather difficult, simply because there are so many great options to choose from. However, if you want to get started with pharmaceuticals and medications, there are a few excellent companies that should be at or near your top of mind. These include big names such as: 

• Aidotick Pharmaceuticals,
• Lupin Pharmaceuticals Ltd., 
• Sun Pharma Ltd., 
• Ranbaxy Laboratories Ltd.,
• Cipla Ltd.,
• Biocon Limited. 

Each of these pharma has years upon years of experience, outstanding history within India, and incredible facilities. The list goes on and on. Once you learn more about their history and practices, it’ll be easier for you to decide whether or not they’re a good fit for your individual needs. The important thing is to do research and make an informed decision!

If you don’t know where to start when looking for the best pharma companies in India, go ahead and reach out to us over email or call. Our team of pharmaceutical experts are having great exposure to the Indian market. We would love to talk to you regarding any of your requirements.